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Impact of the Global Financial Crisis on employed Australian baby boomers: A national survey

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Date

2010

Authors

O'Loughlin, Kate
Humpel, Nancy
Kendig, Hal

Journal Title

Journal ISSN

Volume Title

Publisher

Blackwell Publishing Ltd

Abstract

Aim: This paper examines the impact of the global financial crisis (GFC) on employed Australian baby boomers. Methods: A nationally representative sample of 1009 boomers aged 50-64 years completed a survey by telephone interview mid 2009. Results: Compared with 1 year ago, 38.9% of working boomers reported being financially worse off and this was more so for women (42.4%) than men (35.6%). Following the GFC, 41.4% of women and 31.9% of men had decided to postpone their retirement plans. Conclusion: The GFC is affecting the retirement preparations and plans of Australia's baby boomers. Policy implications include reduced resources for retirement needs, and uneven and differential impacts for those with interrupted employment histories, notably women.

Description

Keywords

Keywords: article; Australia; comparative study; employment; female; forecasting; human; information processing; male; middle aged; population growth; retirement; Australia; Data Collection; Employment; Female; Forecasting; Humans; Male; Middle Aged; Population Gro Australia; Baby boomer; Global financial crisis; Plan; Retirement

Citation

URI

http://hdl.handle.net/1885/20917

Collections

ANU Research Publications

Source

Australasian Journal on Ageing

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1111/j.1741-6612.2010.00425.x

Restricted until

2037-12-31

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